Notable Quotable

Why Do Bars Have Happy Hours?

"Why do bars offer discounted prices on drinks early in the evening? The answer is that they recognize that the crowd and not the bar itself is the main reason people go to bars, and the discounts are effectively an expenditure designed to build something of value (that is, the crowd) which they can monetize later in the evening, with those same people or with others who come to the bar only because it is popular. The general principle at work here, of incentivizing early adopters, may be applicable to your business in other ways."

- Tom Murcko

Always Ask for a Discount

"Always ask for a discount. It surprises me how many people in business still don't do this. There's no downside (I've never had anyone get offended and choose not to work with me), and the upside is that quite often you will get a discount. To maximize the discount, it's best to have done your research so you can tell each vendor what deals other vendors have offered you."

- Tom Murcko

A Good Deal is Not Always a Good Thing

"No matter the discount or special deal you may have found, the savings are a moot point if the price tag is still well beyond your means."